TD Cowen Boosts Sweetgreen (NYSE:SG) Price Target to $26.00

Sweetgreen (NYSE:SG) had its target price lifted by research analysts at TD Cowen from $22.00 to $26.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s target price would suggest a potential upside of 10.40% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley raised their target price on shares of Sweetgreen from $11.00 to $16.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. Piper Sandler raised their price objective on Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Citigroup increased their price target on Sweetgreen from $16.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Royal Bank of Canada raised their price target on Sweetgreen from $13.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Sweetgreen from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.13.

Sweetgreen Price Performance

SG stock opened at $23.55 on Friday. Sweetgreen has a 1-year low of $8.64 and a 1-year high of $26.45. The stock has a market capitalization of $2.66 billion, a P/E ratio of -23.55 and a beta of 2.22. The business has a fifty day moving average price of $22.13 and a 200-day moving average price of $14.68.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Sweetgreen had a negative net margin of 19.41% and a negative return on equity of 21.58%. The company had revenue of $153.00 million for the quarter, compared to analysts’ expectations of $152.04 million. During the same period in the previous year, the firm earned ($0.44) earnings per share. The firm’s revenue for the quarter was up 29.0% on a year-over-year basis. As a group, analysts anticipate that Sweetgreen will post -0.71 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Adrienne Gemperle sold 4,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.00, for a total value of $64,000.00. Following the sale, the insider now directly owns 129,407 shares in the company, valued at approximately $2,070,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Adrienne Gemperle sold 4,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.00, for a total value of $64,000.00. Following the completion of the sale, the insider now owns 129,407 shares of the company’s stock, valued at approximately $2,070,512. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan Neman sold 58,067 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.36, for a total value of $949,976.12. Following the transaction, the chief executive officer now directly owns 2,100,000 shares in the company, valued at $34,356,000. The disclosure for this sale can be found here. Insiders sold 130,267 shares of company stock worth $2,090,933 in the last three months. 21.52% of the stock is owned by insiders.

Institutional Trading of Sweetgreen

Institutional investors have recently bought and sold shares of the stock. Bourgeon Capital Management LLC acquired a new stake in shares of Sweetgreen during the third quarter worth about $29,000. Quest Partners LLC purchased a new position in Sweetgreen during the 4th quarter worth approximately $104,000. Clear Harbor Asset Management LLC acquired a new stake in Sweetgreen during the 4th quarter valued at approximately $113,000. Triumph Capital Management purchased a new stake in shares of Sweetgreen in the 4th quarter valued at $126,000. Finally, Forum Financial Management LP increased its stake in shares of Sweetgreen by 12.6% in the third quarter. Forum Financial Management LP now owns 11,262 shares of the company’s stock worth $132,000 after acquiring an additional 1,262 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Company Profile

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.